President Trump is rolling back tariffs on goods from Brazil and other countries, aiming to lower prices on everyday items like beef, coffee, and bananas as Americans face rising food costs. He’s also floated the idea of $2,000 'tariff dividend' checks to offset inflation, though Congress would need to approve. Meanwhile, the Congressional Budget Office now estimates tariff revenues will reduce the deficit by $3T through 2035—$1T lower than prior projections, since many tariffs are getting cut. The Supreme Court appears skeptical of Trump’s authority to impose these sweeping tariffs, and a ruling against him could force new trade strategy from the administration. As global food prices fall, the US is making new deals with Switzerland and is close to reaching one with India, while China has resumed some US soybean purchases. Still, the effects of the trade actions linger across markets and consumer prices.